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Fly News Breaks for January 8, 2018
FII
Jan 8, 2018 | 05:35 EDT
JPMorgan analyst Kenneth Worthington downgraded Federated Investors to Underweight with an unchanged price target of $31. The stock's outperformance over the past six months could shift to underperformance due to deteriorating fundamentals and a valuation that already includes tax reform benefits, Worthington tells investors in a research note. The analyst is concerned with the "ongoing deterioration" of market share within Federated's money market fund franchise.
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